• Housing starts fell 0.7% MoM in October versus forecasts for a 0.6% rise. 
• But Building Permits beat expectations for a 3.5% MoM decline by a wide margin, coming in at +4.0%. 

Housing starts in the US fell by 0.7% MoM in October after (a downwardly revised from -1.6%) 2.7% drop in September, according to data published jointly by the US Census Bureau and the US Department of Housing and Urban Development on Wednesday. That was below expectations for a 0.6% MoM rise.

Meanwhile, Building Permits rose 4.0% MoM in October following a 7.7% decline in September. That was well above expectations for a further drop of 3.5%.

Market Reaction

FX markets have seen a very minimal reaction to the latest US housing numbers so far and the DXY continues to consolidate slightly to the south of the 96.00 level.